- Robinhood and MetaMask yesterday announced a partnership to streamline crypto buying and storage
- MetaMask users can now purchase assets using Robinhood’s order flow and effortlessly fund and transfer crypto assets to their MetaMask wallets
- The move is part of Robinhood’s stated aim of reducing friction in web3 adoption
Trading platform Robinhood and self-custodial crypto wallet MetaMask yesterday revealed a partnership they hope will make crypto buying and storage more seamless than ever. This integration enables MetaMask users to seamlessly purchase digital assets using Robinhood’s order flow, while account holders on Robinhood can easily fund and transfer their crypto assets to their MetaMask wallets. The move is part of Robinhood’s plan to “reduce friction wherever possible to increase adoption of Web3,” according to Seong Lee, Robinhood Crypto’s head of product.
Bringing Crypto to the Masses
Robinhood had a big part to play in the 2020-21 bull run when it began offering users an easy way to buy and sell cryptocurrencies, and it seems that its interest in the crypto market has been more than fleeting. Metamask, owned by Consensys, has, of course, been a big player in the web3 space for many years, and has equally been trying to make the buying and storing of crypto assets easier for non-crypto natives.
Lorenzo Santos, a senior representative at ConsenSys, echoed this sentiment, telling Forbes that the integration is “the first step in the journey,” to reducing friction in the web3 experience as Lee had highlighted, emphasizing the user-friendly approach that will be essential to attracting a new breed of user.
Hello @RobinhoodApp customers 👋! We’re happy to announce that US users will now be able to buy and transfer crypto on MetaMask with Robinhood Connect.
Click below to read more about the integration: https://t.co/A5FoL9EBrq
— MetaMask 🦊🫰 (@MetaMask) February 6, 2024
Through MetaMask’s Buy Crypto aggregator, customers can now execute in-app purchases via Robinhood’s order engine, with transactions seamlessly connected to their digital wallets.
Santos told Forbes that the integration will be an attractive option for Robinhood’s existing customer base of approximately 10 million users, providing them with a convenient pathway for crypto trading.
Metamask, too, has been making strides to attract a more diverse user base in recent months, including fiat to crypto purchases and a ‘cashing out’ feature.
